2006 Nebraska Revised Statutes - § 67-328 — Partner\'s interest; subject to charging order.

Section 67-328
Partner's interest; subject to charging order.

(1) On due application to a competent court by any judgment creditor of a partner, the court which entered the judgment, order, or decree, or any other court, may charge the interest of the debtor partner with payment of the unsatisfied amount of the judgment debt with interest thereon and may then or later appoint a receiver of his or her share of the profits, and of any other money due or to fall due to him or her in respect of the partnership, and make all other orders, directions, accounts, and inquiries which the debtor partner might have made, or which the circumstances of the case may require.

(2) The interest charged may be redeemed at any time before foreclosure, or in case of a sale being directed by the court, may be purchased without causing a dissolution:

(a) With separate property, by any one or more of the partners; or

(b) With partnership property, by any one or more of the partners with the consent of all the partners whose interests are not so charged or sold.

(3) Nothing in the Uniform Partnership Act shall deprive a partner of his or her right, if any, under the exemption laws, as regards his or her interest in the partnership.

Source:

Laws 1943, c. 143, § 28, p. 496

R.S.1943, § 67-328

Laws 1996, LB 681, § 208

Termination date January 1, 2001

Annotations:

Remedy for partner's individual creditor is to apply for a charging order against partner's interest in partnership. Novak v. Novak, 245 Neb. 366, 513 N.W.2d 303 (1994).

~Reissue Revised Statutes of Nebraska